Terms of service

Last updated: 30. June 2020 - 2:05 pm (GMT+1)

1. General

These Terms of Use govern the relationship between you ("user") and Mirai Technologies AS ("the company"). By creating an account on MiraiEx or other services related to our company, you confirm that you have read and accepted our current terms of use.

MiraiEx offers a safe platform for buying and selling cryptocurrencies (such as bitcoin, litecoin and ethereum). We support trading between cryptocurrencies and regular currencies (fiat money, such as NOK and EUR).

In order to use our services, we require that our users are 18 years of age or older, have a valid Norwegian national identity number, and are qualified to enter into legal agreements. We only allow one account per person. The account is personal and should therefore only be used by the registered owner. If we find that an account does not comply with this requirement, the account will be closed immediately.

2. Accounts

2.1. General

MiraiEx is a safe and secure platform for buying and selling cryptocurrencies. We give our customers the opportunity to buy and sell cryptocurrencies on our platform against fiat money and other cryptocurrencies.

The company is not responsible for theft from users' accounts due to user negligence, such as having a weak password or sharing his / her password with other people.

We recommend that users of MiraiEx use a password that has not been used elsewhere. We recommend using a password generator and saving your password in a safe place, such as in a password manager like KeePass, 1Password, Dashlane or LastPass. We recommend activating 2-factor authentication to increase the security of your user account.

2.2. Cryptocurrency

The company stores the users' cryptocurrencies in digital wallets. A digital wallet for cryptocurrency is software specifically developed to send and receive cryptocurrencies. A wallet contains keys that are used to sign transactions and thus send cryptocurrency.

The company guarantees that the digital wallets are adequately secured. The majority of funds are secured with encryption keys in cold-storage, so users' money is protected from theft. Our security system may cause waiting time for withdrawals during busy hours.

When cryptocurrency is deposited or withdrawn, the user is responsible for entering the correct address. After the user has confirmed the transaction, it will not be possible to change the information provided. The company is unable to reverse a trade between users and does not offer users credit.

The company reserves the right to stop cryptocurrency withdrawals from accounts suspected of being used in connection with money laundering, terrorist financing or other illegal activities.

We charge a fee for the withdrawal of cryptocurrency. See our page about fees and withdrawal limits for information. The withdrawal fees and limits varies depending on the cryptocurrency the user wants to withdraw.

2.3 Handling of incorrect deposits of cryptocurrency

Incorrect deposits can occur if a user does not follow MiraiEx's instructions for depositing. It may be that a user sends cryptocurrency to a wrong address, such as the BTC to a BCH address, or that a user sends a transaction with missing additional information for a cryptocurrency that requires this. Examples of cryptocurrencies that require additional information are XRP og XLM.

MiraiEx will not always be able to see where the incorrectly deposited cryptocurrency came from, and it may be very labor-intensive to figure it out. Therefore, MiraiEx will only attempt to credit such incorrect deposits if the value exceeds 5,000 NOK and we are informed of the transaction within 10 days of it being sent. We can not guarantee that such a transaction will be found, but we will do our best to find it.

2.4. Fiat money

To buy cryptocurrency through our platform, users must have money in their MiraiEx account. Each user's account is linked to a bank account.

The user decides what the money in the account will be used for. The user can only transfer money from his/her MiraiEx account to a Norwegian bank account belonging to the user. For such a fiat withdrawal to be completed, the user must be able to verify ownership of the bank account he/she wishes to withdraw money to.

Only bank deposits from Norwegian bank accounts are possible. It is a condition that the user owns the bank account the money is transferred from. We may require the user to display valid credentials that the bank account belongs to the user. Money sent from an account not owned by the user will be returned.

Any fraud or attempted fraud will be reported to legal authorities. See our price list for an overview of the costs for withdrawal of fiat money.

2.5. Termination of accounts

All users of MiraiEx have the right to have their account deleted from the system. All personal information sent to the company by the user is encrypted and stored safely. We are required to store data used in connection with KYC for five years after the customer relationship has been terminated or the last transaction has been completed. User data that we are not required to store will be deleted as soon as possible after the termination of the customer relationship.

If the system detects that an account is used in connection with illegal activities, such as money laundering or terrorist financing, the system will automatically lock down the account. In these cases, the company reserves the right to report the user to the appropriate legal authorities in Norway.

The company reserves the right to terminate user accounts without notice for breach of the terms of service. An account will generally not lose any funds even if it is terminated. All assets will be exchanged to NOK and transferred back to the owner's bank account as soon as possible. An exception to this is if the authorities have seized the funds.

3. Buying and selling.

MiraiEx takes a fee for trading on the exchange. The user will be able to see the size of this fee before a new order is placed. By buying or selling cryptocurrencies, the user accepts our terms of service. It will be possible to cancel an order until it is filled. If parts of the order are filled, the non-filled part can be canceled. MiraiEx offers no refunds after a buy or sell order has been filled.

See our list of fees here.

4. Responsibility and compensation

The company can not be held responsible by the users for loss of investments, profits, data or damage that may be due to technical errors, transaction processing time, system failure, interrupted network connection, unforeseen events (such as natural disasters) or similar.

The company works hard to always have our services to be available to our users. However, we can not guarantee that the platform will be open at all times. In case of downtime or other issues, we will try to keep all our channels open and update our users as soon as possible.

The company will comply with all applicable laws, regulations, and requirements. If there are any new laws or regulations, our users will be informed of this. The company operates in Norway and follows Norwegian legislation. We will, therefore, fulfill legal requests from the Norwegian authorities to share user information and lock down user accounts.

Buying and selling of cryptocurrencies on MiraiEx take place entirely at the users' own risk. The company will not be liable for any direct or indirect loss the users may experience when trading on our platform.

By accepting these terms of service, the user agrees to comply with these terms of service and all applicable laws and regulations.

5. Governing law

The terms of service are subject to Norwegian law. Norwegian courts shall settle disputes concerning the interpretation and application of the terms of service.

6. Change of Terms

We reserve the right to change these terms of service, and will, as appropriate, provide our users with an announcement if the terms of service are changed. By agreeing to the terms of use, you consent us contacting you by email to inform you about important changes.

Feel free to contact support@miraiex.com if you have any questions.

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